Bem-vindo in Portugal! – Here we are ! After using the conditional for months, we can now write it in the affirmative way. YES ! One can to buy a house with some bitcoin (BTC) in Europe. Other countries are about to allow itbut to Portugal, it is already a reality. A transaction has just been officially registered with the blessing of the Order of Notaries. Our Portuguese friends confirm their interest in the cryptocurrencies and take a step ahead of the rest of Europe.
A 100% Bitcoin transaction to buy a house in Portugal…
The property in question is a apartment of type T3 located in Braga in the north of Portugal which was sold for 3 BTC (i.e. 110,000 euros at the time of the sale). It is a European first insofar as there was no no currency conversion throughout the exchange. It’s the real estate agency Zome who piloted the operation, assisted by the law firm Antas da Cunha ECIJA, the Union of Notaries of Portugal and the Swiss organization Crypto Valley. The Zome agency welcomed this transaction in these terms:
“This act represents a historic step. The transfer of a digital asset to a physical asset – a house – without any conversion into euros. »
To finalize the sale, lawyers and notaries changed their habits to comply with the new regulatory framework specific to cryptocurrencies. It was thus necessary control and certify :
- The origin of funds in euros;
- The transfer of the euro to bitcoins;
- The public key of the wallet;
- The different parties involved in the operation;
- The actual transfer of funds from one wallet to another.
This operation became possible following the adoption of a series of laws voted last month. This now puts Portugal on the list of countries that are opening their arms wide to cryptocurrency and Bitcoin investors.
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… to become the reference in crypto investments in Europe
National economic actors are very optimists about the future of such transactions. The lawyers who led the project see opportunities for growth:
“This type of business will grow exponentially. Portugal shows very promising signs in terms of digital economy. We therefore believe that this operation can be a great opportunity for growth and value creation. »
And real estate agents believe there is a new market opening up:
“The future of mediation will be through cryptocurrencies. We believe this transaction opens up a whole new world of business.. »
Portugal persists and signs its desire toattract European and global capital in his charming country. Pleasant surroundings, fairly low cost of living and advantageous taxation on cryptos: it looks like a postcard for new crypto-rich in need of Europe.
The La Haus company in Latin America launched hostilities last year on the crypto goods sales. Since then, DAMAC in Dubai has come forward. And now, Portugal. Examples of banks and institutions that come into play are multiply. Lately it’s Argentina which has shown its interest. A little more patience, and you can afford a secondary residence in bitcoin in Corrèze!
Portugal, the house by the water… the dream! Do not wait any longer to realize it and register on Kucoin to buy your first bitcoins safely (affiliate link).